During the holiday season, many individuals seek ways to boost their finances post-Christmas due to the high expenses incurred. Roy Foulkes, a retired police officer residing in West Hallam, Derbyshire, has managed to earn over £5,500 in cash and vouchers by identifying and reporting vacant and neglected properties.
In 2024, Roy discovered YouSpotProperty, a platform that compensates individuals for pinpointing long-term empty houses. Initially, the company rewards a £20 Amazon or M&S voucher for correctly identifying a vacant property. If YouSpotProperty proceeds to purchase, renovate, and sell the property, the spotter receives 1% of the purchase price, with a maximum reward of £10,000.
Roy has accumulated £4,750 from the 1% rewards for two properties he reported, along with 39 £20 vouchers amounting to £780. His earnings have been used for household items, vacations, and memorable experiences with his grandchildren.
The first property that qualified for the 1% fee was spotted by Roy while walking his usual route. Despite previously reporting the property to the local council with no action taken, Roy found success with YouSpotProperty. The second property was identified near a former public housing unit in Derby.
Apart from the financial rewards, Roy has utilized his vouchers for household purchases. He expressed satisfaction in contributing to society through reporting properties and earning money simultaneously.
Empty Homes Network estimates that there are over £465 billion worth of vacant properties in England and Wales. YouSpotProperty issues approximately 110 £20 M&S or Amazon vouchers monthly for eligible property reports, with 350 to 450 properties reported weekly. The company purchases and rehabilitates properties ranging from £17,000 to £3 million, paying out an average of seven 1% reward fees each month.
Benjamin Radstone, co-founder of YouSpotProperty.com, emphasized the impact of bringing unused properties back into circulation and rewarding the public for their contributions.